BROWSE BY TOPIC
Stories of Interest
- White House Now Doesn’t Dispute Details of Trump's Call with Army Widow
- Goldman Sachs’ Lloyd Blankfein Just Threw Some Serious Brexit Shade
- Guggenheim Partners ‘Bank Wrecker’ Could Get $100Mn Exit Package
- Proposed Arbitration Rule Change: For Customers Dealing with an Inactive Firm or Associated Person
- This Family Bet It All on Bitcoin
- Clearinghouses Pass CFTC Liquidity Stress Tests
- President Trump Admits He’s Trying to Kill Obamacare. That’s Illegal.
- Trump Plunges Down List of ‘America’s Richest’
- Is Trump’s “Foreclosure King” in Over His Head?
- FBI Arrests NCAA Basketball Coaches and Adidas Rep in Bribery Probe Involving Recruitment
- Equifax CEO Steps Down Amid Hacking Scandal
- Litigation Costs to Rub Salt in RBS Investor Wounds
- RIAs Poised to Land Wirehouse Recruits - Dan Jamieson
- Citibank and U.K. Affiliate to Pay $550K Penalty for Swap Data Reporting Violations - CFTC
- AIG to Restructure into 3 New Units, Marking CEO's First Big Move
- Accounting Firm Deloitte Says It Suffered Cyberattack (subsc reqd)
- Upcoming FINRA Board Meeting and FINRA360 Update
- Elizabeth Warren Lifts Hold on Trump DOJ Antitrust Nominee
- Bigger Mergers Narrow Indy Reps' Options, Alter IBD Channel - Dan Jamieson
- Dentons to Merge with U.K.'s Murray & Spens
We seek to provide information, insights and direction that may enable the Financial Community to effectively and efficiently operate in a regulatory risk-free environment by curating content from all over the web.
Stay Informed with the latest fanancialish news.
NEWSLETTERS & ALERTS
Musical Chairs at Morgan Stanley Private Wealth Management
[Photo: MS Sydney, Australia, HQ's, by Alex Proimos / Wikimedia Commons]
by Howard Haykin
The private wealth management sand dunes continue to shift at Morgan Stanley, which employs more than 15,000 advisers. In 2016, the firm reshuffled its top executive ranks in wealth management following the departure of President Greg Fleming. Earlier this year, the firm reduced the number of regional executives from 8 to 6. Yesterday, Morgan Stanley announced plans to put 90 financial advisers alongside investment bankers at its Times Square headquarters - in hope the interaction will generate more business. [See Financialish.com]
Finally, Morgan Stanley issued a memo with further changes at the top of its private wealth management unit. The changes include 2 promotions and a flattening of the management structure. According to Reuters:
- Vince Lumia, head of wealth management, will now be 'head of the field'.
- Mandell Crawley, chief marketing officer, will now be head of wealth management.
- Former divisional head Bill McMahon and Rick Skae will now be vice chairs of wealth management.
It remains to be seen if the 'game of musical chairs' has come to an end.